Singapore Airlines Traffic Falls Most In Five Years On Recession

Singapore Airlines Ltd., the world’s largest carrier by market value, reported its biggest slump in traffic in more than five years as a global recession cuts travel demand.

Passenger numbers slid 6.1 percent in November to 1.54 million, the airline said in a Singapore stock exchange statement today. That’s the biggest drop since a 7.6 percent decline in August 2003, according to data compiled by Bloomberg.

Singapore Air’s traffic has declined in two of the past three months as financial firms cut business travel and people cancel leisure trips. Global air traffic will decline 3 percent next year, the first drop since 2001, the International Air Transport Association has said.

The airline gained 0.2 percent to S$11.06 in Singapore trading today. The shares have declined 36 percent this year.